As previously announced, on December 3, 2020, Custom Truck One Source, Inc. and NESCO Holdings II, Inc., a subsidiary of the company, entered into a Purchase and Sale Agreement with certain affiliates of The Blackstone Group and other direct and indirect equity holders (collectively, Sellers) of Custom Truck One Source, L.P. (CTOS), Blackstone Capital Partners VI-NQ L.P. and, solely with respect to Section 9.04 of the Purchase Agreement, PE One Source Holdings, LLC, an affiliate of Platinum Equity (Platinum), pursuant to which Buyer agreed to acquire 100% of the partnership interests of CTOS (collectively, the Acquisition). In connection with the Acquisition, the previously announced appointments of Fred Ross as Chief Executive Officer of the company became effective on the Closing Date (April 1, 2021). Also, as previously announced, Lee Jacobson ceased to serve as the Chief Executive Officer of the company, effective as of the Closing Date (April 1, 2021).